Development problems of ESG-banking and ESG-risk management in commercial banks

Doronin, Boris Alekseevich; Glotova, Irina I.; Tomilina, Elena P.

doi:10.24923/2222-243x.2021-41.8

KANT

2021

DOI: 10.24923/2222-243x.2021-41.8

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Development problems of ESG-banking and ESG-risk management in commercial banks

Boris Alekseevich Doronin¹,

Irina I. Glotova

Elena P. Tomilina

Abstract: ESG-transformation is taking place in all areas of the economy. Banks must become examples and guides in conducting business in an environmentally, socially and governance manner. The purpose of the study is to substantiate the need to determine the correct course and implement the principles of ESG-banking, including in the practice of risk management of commercial banks, taking into account the long-term consequences of today's actions for global economic and natural systems. Scientific novelty lies in the d… Show more

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ESG-Principles in Development

Matveeva,

Kustova,

Bezrukikh

2023

Baikal Research Journal

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In recent years, the world community has largely formed the foundations of the ideology of world development for the coming decades, which are expressed in the paradigm of sustainable development through the introduction of ESG principles into the activities of the most companies in various sectors of the national economics. The interpretation and use of these principles in the activities of the most conservative industry of the Russian Federation, to which, according to most scientists, construction belongs, are not fully regulated, which makes it difficult to fully apply them and indicates the need to transform the operational activities primarily of development companies. The article analyzes the publications of independent research agencies that regularly analyze Russian companies for compliance with international standards of sustainable enterprise development, as well as directly development companies in Russia that are actively applying ESG principles in their operational activities at the moment. At the same time, special attention was paid to the problems of applying the sustainable development strategy in practice and ways to solve these problems. Moreover, the recently come into force standard of "green" construction for the evaluation of residential buildings GOST R 70346-2022 "Green Standards" was reviewed, as well as the current and proposed potential transformation processes of a development company at hierarchical levels, according to the ESG 2.0 strategy. The transformation processes of a development company proposed in the article on hierarchical levels are aimed at introducing the concept of ESG principles at each stage of the development project life cycle. That will provide a synergetic effect by defining new development priorities, economic, technological and cognitive sovereignty of development in the Russian Federation, as well as regulatory control over compliance with these principles not only during the construction of a building, but also at the stage of its operation.

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ESG-Principles in Development

Matveeva,

Kustova,

Bezrukikh

2023

Baikal Research Journal

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Legal and organizational aspects of introducing ESG-standards in the Russian banking sector

Белоусов

2022

RusJEL

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Objective: to study the processes of introduction and practical implementation of ESG standards in the Russian banking sector and to assess their impact on the prospects for the financial market development in general.Methods: logical and structural analysis, system-functional approach, formal legal method.Results: the author reveals the essence and features of such a relatively new phenomenon for the Russian banking sector as ESG-principles of doing business and responsible financing. The study reveals the prerequisites for the formation of modern ESG concepts in international practice, analyzes the possibility of their implementation in the practical activities of the Russian financial sector subjects and assesses the prospects for the Russian banking system development within the paradigm of responsible entrepreneurship and sustainable development.Scientific novelty: consists in the complex study of relations associated with the ESG principles implementation in the Russian financial sector. A distinctive feature of this work is the focus on both practical issues of implementing the ESG principles in the Russian financial sector and assessing the prospects for the ESG banking development in the Russian Federation.Practical significance: the formation of a certain theoretical basis necessary both for studying the essence of the ESG approach and the sustainable development of financial sector entities, and for developing proposals for adjusting regulatory policy in this area in the future.

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Development trends in ESG banking activities

Zaytseva

Maksimov

2022

Èkonomika i upravlenie

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Aim. The presented study aims to identify trends and directions that characterize the participation of banks in the implementation of the principles of sustainable development at the current stage and to formulate recommendations for enhancing the role of banks in this process. Tasks. The authors determine the role of commercial banks in the implementation of ESG projects; analyze the elements of sustainable development from the perspective of commercial banking activities; identify trends in the operation of banks and provide recommendations for enhancing their participation in the implementation of sustainable development projects. Methods. This study uses general scientific methods, including a systems approach to the analysis of the subject, a conceptual approach based on the analysis of papers by Russian scientists on sustainable finance, as well as logical and statistical analysis. Results. The conducted study substantiates the key role of banks as entities actively involved in the implementation of projects aimed at achieving sustainable development goals; describes the specific manifestation aspects of each of the three ESG elements from the perspective of commercial banking activities; identifies and describes major trends in the activities of banks associated with the implementation of ESG projects; formulates recommendations for banks on how to enhance this activity. Conclusions. The special status of banks as financial intermediaries does not allow them to remain uninvolved in the implementation of ESG projects. However, a complete understanding of the importance and urgency of implementing the ESG agenda in the banking sector is yet to be achieved. Factors slowing down the development include poor quality and limited sources of information for analyzing borrowers and issuers, lack of a unified methodology for assessing the participation of banks, and insufficient development of the regulatory framework for analyzing ESG projects. These factors can be mitigated by developing universal standards and approaches to the assessment of relevant projects, creating a unified taxonomy aimed at regulating all aspects of ESG banking, and spreading information about sustainable development.

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Development problems of ESG-banking and ESG-risk management in commercial banks

Cited by 3 publications

References 0 publications

ESG-Principles in Development

ESG-Principles in Development

Legal and organizational aspects of introducing ESG-standards in the Russian banking sector

Development trends in ESG banking activities

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